Main Street Research LLC Sells 384 Shares of The Charles Schwab Co. (NYSE:SCHW)

Main Street Research LLC trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 36,240 shares of the financial services provider’s stock after selling 384 shares during the quarter. Main Street Research LLC’s holdings in Charles Schwab were worth $2,682,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp lifted its holdings in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Franklin Resources Inc. grew its stake in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SCHW shares. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Jefferies Financial Group raised their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Down 1.3 %

SCHW opened at $74.58 on Monday. The stock has a market capitalization of $135.25 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.99 and a beta of 0.98. The firm has a 50 day moving average price of $78.50 and a 200-day moving average price of $74.05. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.45%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 in the last three months. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.